DeFi’s Big Lie: Banking the Unbanked or Just a Fancy Wrapper? 💸

It is a compelling narrative. It is also increasingly disconnected from reality. After five years of explosive experimentation, DeFi has built an extraordinary parallel financial system – but almost all of it still depends on the very infrastructure it claims to be replacing. We did not build new rails. We built new products on top of old ones. And that distinction is not cosmetic. It is the core reason why DeFi has failed to change or revolutionize financial services meaningfully. 🧠






